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Economic impact of monetary policy: Focus on real estate sector in Italy

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  • Irfan Ahmed
  • Claudio Socci
  • Ali Medabesh
  • Francesca Severini
  • Jacopo Zotti

Abstract

This study investigates the nexus between financial market and real estate (RE) sector against the backdrop of ECB's unconventional monetary policy. A financial dynamic computable general equilibrium (DCGE) model is calibrated on the financial social accounting matrix (FSAM) of Italian economy. The findings confirm that the inclusion of financial intermediation into real economy affects the real estate sector's output, value added, and pricing.

Suggested Citation

  • Irfan Ahmed & Claudio Socci & Ali Medabesh & Francesca Severini & Jacopo Zotti, 2021. "Economic impact of monetary policy: Focus on real estate sector in Italy," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 1256-1269, January.
    • Handle: RePEc:wly:ijfiec:v:26:y:2021:i:1:p:1256-1269
    DOI: 10.1002/ijfe.1848
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